Issue link: https://maltatoday.uberflip.com/i/736806
42 Events maltatoday, SUNDAY, 9 OCTOBER 2016 Al Faisal International acquires 78% stake in Banif Malta AL Faisal International for In- vestment ("AFII"), the Finan- cial Investment Company of Al Faisal Holding Company, one of Qatar's largest private diversified industry groups, announces that it has acquired a 78.46% share- holding in Banif Bank (Malta) plc, a key player in the Maltese financial services industry. Banif Bank (Malta) has been operating since 2008 and cur- rently provides a full range of commercial banking services to its approximately 30,000 cus- tomers through a network of twelve branches and its three corporate and business banking units. AFII has completed the acqui- sition of the 78.46% stake from Oitante, S.A., following receipt of regulatory approval by the European Central Bank and the Malta Financial Services Au- thority. The remaining 21.52% of Banif Bank (Malta)'s shares are held equally by four Maltese shareholders. AFII will appoint three Non-Executive Directors to the Bank's 11 person Board. AFII and Al Faisal Holding have a strong, global track record of long term investment across a range of sectors, adding value and allowing businesses to devel- op and fulfil their potential. In line with this approach, AFII will be providing Banif Bank (Malta) with additional capital resources to further strengthen the Bank's capitalisation and to support its focused diversification and expansion plans. These plans include enhancing the Bank's existing range of services for re- tail and corporate customers and the development of new private banking and investment banking services. H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, commented: "Banif Bank Malta has quickly established itself as an increas- ingly important part of Malta's financial services landscape and it is a bank in which Al Faisal is proud to have become the ma- jority shareholder. Across the globe, Al Faisal's strategy is to establish market-leading stand- ards of operation and service in every region and sector in which we operate and Banif Bank Malta will be no exception. "Banif Bank Malta is a well- resourced, well-managed bank with exciting growth poten- tial and a good platform upon which to build. The Bank shares our values of excellence in ser- vice and corporate governance and has worked hard to develop strong retail and corporate cus- tomer relationships - for exam- ple through its high levels of customer service and care, ex- panding ATM network and ro- bust digital banking facilities. "This is a significant move for us; Banif Bank Malta will be Al Faisal's first financial services investment in Europe and we expect it to be the first of more investments in Malta across a number of different sectors. I can assure all the Bank's stake- holders that as experienced, long term investors in high quality businesses, we will ensure that its management and staff have the necessary capital and resources to gradually expand the business and to provide new and existing customers with an enhanced and diverse range of market-leading financial services. We are con- fident that with Al Faisal as its majority shareholder, Banif Bank Malta will move into a new phase of growth and development." Joaquim Francisco Da Silva Pinto, Chief Executive Officer of Banif Bank (Malta), said: "Banif Bank Malta welcomes Al Faisal International for In- vestment as our majority share- holder. While in the short term it will be business as usual for our customers as we consolidate and expedite our current growth strategy, with the backing of such a major, global investor we look forward to leveraging new resources and expertise to fur- ther develop and enhance the Bank's services and relationships with all our stakeholders." New head of human capital for APS APS Bank announc- es that Raymond Bonnici has joined its senior manage- ment team as Head of Human Capital. Raymond, a gradu- ate of the University of Malta and the London Chamber of Commerce & Industry, has held senior HR roles for the past 20 years with leading local and international groups. He started off his career with a 10 year spell in the Airline Indus- try, working for KLM, Swissair and Sabena in Malta. In 1996, he joined Hili Group of Compa- nies where he as- sisted in setting up their first ever HR function. In 1999, he moved to Hilton Hotels International, and then rejoined Hili Group in 2008 as Director of HR with Premier Capital. In this post, he was part of the ac- quisition team for the handover of the McDonald 's business in Greece, and was also key to the setting up of an HR function at PTL International, an IT solu- tions provider. Since 2015, he managed the HR function at Premier Capital plc when the company acquired the Develop- ment Licence for McDonald 's in Romania. "We are confident that Ray will continue to build, develop and modernise what is already a strong HR function at APS Bank, taking it to the next lev- el ", said Chief Executive Officer Marcel Cassar. MUMN selects GO as communications partner THE Malta Union of Midwives and Nurses (MUMN) has select- ed GO as its communications partner in an agreement which will see the telecommunication operator provide services to the Union and its members. Established in September 1996, and therefore currently celebrating its 20th anniversary, MUMN supports and looks af- ter the interests of nurses, mid- wives, social workers, ECG tech- nicians and physiotherapists. Through its members, it also strives to educate the public and works towards reducing the risk of illness as to assist patients to lessen discomfort and suffering and to hasten convalescence. GO Business Manager, Mrs Greta Rapinett, said, "MUMN, and its members, provide an in- valuable service to the Commu- nity with nurses, midwives and other health care professionals spending a lot of time on the road visiting patients. With GO as MUMN's communications partner, these professionals will have the best communications network in Malta helping them in their work." MUMN's President Maria Cutajar in welcoming this part- nership said, "MUMN is more than satisfied to have GO as its communications partner and that it also appreciates the pro- fessional work being done by MUMN for the Maltese com- munity." (From left) George Saliba, Financial Secretary MUMN, Greta Rapinett, GO Business Manager, Maria Cutajar, MUMN President and Colin Galea, General Secretary MUMN Raymond Bonnici Al Faisal International's strategy is to establish market-leading standards of operations and service – Sheikh Faisal Bin Qassim Al Thani